HILL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
HILL
NACE 63.920, Other information service activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€219,577
2024 · €136,056+€83,521
Equity
€11.2m
2024 · €11.0m+€219,577
Cash
€284,829
2024 · €199,522+€85,307
Balance sheet total
€14.2m
2024 · €11.7m+€2.5m
Largest movements
Assets
- Financial fixed assets +€3.1m
up €3.1m (+37.6%), from €8.3m to €11.4m
- Current investments -€674,832
down €674,832 (-100.0%), from €675,063 to €231
Equity and liabilities
- Other debts +€2.5m
up €2.5m (+1,396%), from €176,341 to €2.6m
- Reserves +€219,577
up €219,577 (+4.7%), from €4.7m to €4.9m
of which Distributable reserves: +€196,577
Income statement
- Gross operating margin +€96,143
up €96,143, from -€51,357 to €44,786
- Financial charges +€7,403
up €7,403 (+113%), from €6,538 to €13,941
- Depreciation +€6,458
up €6,458 (+10.9%), from €59,217 to €65,675
- Financial income +€1,634
up €1,634 (+0.5%), from €344,187 to €345,821
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€136,056
Gross operating margin
+€96,143
Staff costs
-€316
Depreciation
-€6,458
Other operating charges
-€110
Financial income
+€1,634
Financial charges
-€7,403
Taxes
+€31
Result 2025
€219,577
raises the resultlowers the result
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€2.8m
Investment
-€2.6m
Financing
-€149,579
Cash 2024
€199,522
From operations (derived)
+€2.8m
Net result for the year
+€219,577
Depreciation
+€65,675
Receivables after one year
+€69,047
Smaller working-capital items
+€1,414
Other debts
+€2.5m
Accrued charges and deferred income
-€12,067
Investment (derived)
-€2.6m
Investment in fixed assets (net)
-€3.2m
Current investments
+€674,832
Financing
-€149,579
Debts after one year
-€58,495
Current portion of long-term debt
-€1,084
Short-term financial debts
-€90,000
Cash 2025
€284,829
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,680,419 | €14,200,173 | +€2.5m | +21.6% |
| Fixed assets | 21/28 | €10,683,919 | €13,864,398 | +€3.2m | +29.8% |
| Tangible fixed assets | 22/27 | €2,398,886 | €2,465,783 | +€66,897 | +2.8% |
| Land and buildings | 22 | €1,474,538 | €1,474,933 | +€395 | 0.0% |
| Plant, machinery and equipment | 23 | €27,184 | €20,594 | -€6,590 | -24.2% |
| Furniture and vehicles | 24 | €44,354 | €38,966 | -€5,388 | -12.1% |
| Other tangible fixed assets | 26 | €852,810 | €931,290 | +€78,480 | +9.2% |
| Financial fixed assets | 28 | €8,285,033 | €11,398,615 | +€3.1m | +37.6% |
| Current assets | 29/58 | €996,500 | €335,775 | -€660,725 | -66.3% |
| Amounts receivable after more than one year | 29 | €92,062 | €23,015 | -€69,047 | -75.0% |
| Other amounts receivable | 291 | €92,062 | €23,015 | -€69,047 | -75.0% |
| Amounts receivable within one year | 40/41 | €11,053 | €15,669 | +€4,616 | +41.8% |
| Trade receivables | 40 | €11,053 | €15,669 | +€4,616 | +41.8% |
| Current investments | 50/53 | €675,063 | €231 | -€674,832 | -100.0% |
| Cash at bank and in hand | 54/58 | €199,522 | €284,829 | +€85,307 | +42.8% |
| Deferred charges and accrued income | 490/1 | €18,800 | €12,031 | -€6,769 | -36.0% |
| Total equity and liabilities | 10/49 | €11,680,419 | €14,200,173 | +€2.5m | +21.6% |
| Equity | 10/15 | €11,009,988 | €11,229,565 | +€219,577 | +2.0% |
| Contributions | 10/11 | €5,697,637 | €5,697,637 | = | 0.0% |
| Capital | 10 | €5,697,608 | €5,697,608 | = | 0.0% |
| Issued capital | 100 | €5,697,608 | €5,697,608 | = | 0.0% |
| Contributions outside capital | 11 | €29 | €29 | = | 0.0% |
| Share premium | 1100/10 | €29 | €29 | = | 0.0% |
| Revaluation surpluses | 12 | €638,768 | €638,768 | = | 0.0% |
| Reserves | 13 | €4,673,583 | €4,893,160 | +€219,577 | +4.7% |
| Non-distributable reserves | 130/1 | €290,000 | €313,000 | +€23,000 | +7.9% |
| Legal reserve | 130 | €290,000 | €313,000 | +€23,000 | +7.9% |
| Distributable reserves | 133 | €4,383,583 | €4,580,160 | +€196,577 | +4.5% |
| Amounts payable | 17/49 | €670,431 | €2,970,608 | +€2.3m | +343% |
| Amounts payable after more than one year | 17 | €293,589 | €235,094 | -€58,495 | -19.9% |
| Financial debts | 170/4 | €293,589 | €235,094 | -€58,495 | -19.9% |
| Amounts payable within one year | 42/48 | €354,076 | €2,724,815 | +€2.4m | +670% |
| Current portion of amounts payable after more than one year | 42 | €59,578 | €58,494 | -€1,084 | -1.8% |
| Financial debts | 43 | €90,000 | - | -€90,000 | |
| Credit institutions | 430/8 | €90,000 | - | -€90,000 | |
| Trade debts | 44 | €4,633 | €4,850 | +€217 | +4.7% |
| Suppliers | 440/4 | €4,633 | €4,850 | +€217 | +4.7% |
| Taxes, remuneration and social security | 45 | €23,524 | €22,568 | -€956 | -4.1% |
| Taxes | 450/3 | €11,297 | €9,655 | -€1,642 | -14.5% |
| Remuneration and social security | 454/9 | €12,227 | €12,913 | +€686 | +5.6% |
| Other amounts payable | 47/48 | €176,341 | €2,638,903 | +€2.5m | +1,396% |
| Accrued charges and deferred income | 492/3 | €22,766 | €10,699 | -€12,067 | -53.0% |
| Non-recurring operating income | 76A | - | €79,998 | +€79,998 | |
| Remuneration, social security and pensions | 62 | €63,953 | €64,269 | +€316 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,217 | €65,675 | +€6,458 | +10.9% |
| Other operating charges | 640/8 | €16,628 | €16,738 | +€110 | +0.7% |
| Gross operating margin | 9900 | -€51,357 | €44,786 | +€96,143 | |
| Operating profit (loss) | 9901 | -€191,155 | -€101,896 | +€89,259 | +46.7% |
| Financial income | 75/76B | €344,187 | €345,821 | +€1,634 | +0.5% |
| Recurring financial income | 75 | €344,187 | €345,821 | +€1,634 | +0.5% |
| Financial charges | 65/66B | €6,538 | €13,941 | +€7,403 | +113% |
| Recurring financial charges | 65 | €6,538 | €13,941 | +€7,403 | +113% |
| Profit (loss) for the period before taxes | 9903 | €146,494 | €229,984 | +€83,490 | +57.0% |
| Income taxes | 67/77 | €10,438 | €10,407 | -€31 | -0.3% |
| Profit (loss) for the period | 9904 | €136,056 | €219,577 | +€83,521 | +61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €136,056 | €219,577 | +€83,521 | +61.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.